Daytona Energy Corporation

Sharon Prospect

The North Sharon Prospect, located in Jasper County of south-eastern Mississippi, targets the Cretaceous Selma Chalk. The prospect is a gas prospect set up by surrounding well data. It is an upthrown fault closure on a north-south trending fault which is a splinter fault off a larger fault to the west.

The larger fault to the west sets up the trap for the Sharon gas field, which has produced over 34 Bcf of gas to date. In 2002, a development program was initiated by the operator, Denbury Resources, and production jumped from only 28,979 Mcf gas in 2002 to 169,986 Mcf gas in 2003. In 2006, the Selma produced 783,192 Mcf thru October.

A number of vertical wells have been drilled in this field on a small as 20 acre spacing to drain the low permeability reservoir. These wells have initial producing rates as high as 1.1 MMcfpd. In 2006, three horizontal wells were drilled by Denbury and have initial producing rates as high as 4.1 mmcfpd and are enhancing the drainage and economics of Selma Chalk production.

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